zkLend Loses $4.9M in Starknet Exploit, Offers Hacker 10% Bounty for Return of Funds

Decentralized lending protocol zkLend has fallen victim to a $4.9 million exploit on the Starknet network, marking a resurgence in crypto-related hacks after a decline in January.

Azcnews Breaking Zklend Loses $4.9m In Starknet Exploit

According to blockchain security firm Cyvers, the attack occurred on February 12, with the stolen funds being transferred to Ethereum and funneled through Railgun for laundering. However, due to Railgun’s protocol policies, the assets were ultimately returned to the original address.

“zkLend has suffered a $4.9 million exploit on the Starknet network. The stolen funds were bridged to Ethereum and laundered via Railgun, but due to protocol policies, Railgun returned the funds to the original address,” Cyvers reported.

In response, zkLend has extended an offer to the attacker, proposing a 10% bounty in exchange for the return of the remaining funds and immunity from legal action.

Zklend
Zklend

“We understand that you are responsible for today’s attack on zkLend. You may keep 10% of the funds as a whitehat bounty and return the remaining 90%—exactly 3,300 ETH,” the protocol stated.

The firm also issued a firm deadline: “We are working closely with security firms and law enforcement. If we do not hear from you by 00:00 UTC on February 14, 2025, we will move forward with the necessary steps to track and prosecute you.”

While crypto-related hacks saw a 44% year-over-year decline in January 2025, cybercriminals still managed to steal over $73 million that month. Experts warn that the threat remains significant, as 2024 saw hackers siphon $2.3 billion across 165 incidents—representing a 40% increase from 2023’s $1.69 billion in stolen assets.

(2 votes)

4.5/5

(2 votes)

Latest

Ripple’s Rlusd Stablecoin Officially Approved In Dubai

News | Editor Choice | Policy & Regulations

Ripple’s RLUSD Stablecoin Officially Approved in Dubai

Ripple’s RLUSD – the company’s new stablecoin – has just been approved in Dubai, marking a significant step in its global expansion strategy and reinforcing its position in the digital finance market.

Ig Group Is The First Company In The Uk To Offer Crypto Trading

Editor Choice | Policy & Regulations

IG Group is the first company in the UK to offer crypto trading

IG Group, an investment platform in the UK, has officially launched services for buying, selling, and storing cryptocurrencies for investors.

Russia’s Largest Bank Launches Bitcoin Linked Bonds

News | Bitcoin | Editor Choice

Russia’s Largest Bank Launches Bitcoin-Linked Bonds

Sber — Russia’s largest commercial bank — has made headlines by launching a Bitcoin-linked bond, marking a significant step toward integrating digital assets into the country’s traditional financial system.

Ethereum Foundation Restructures Staff, Renames Core Development Team

News | Altcoin | Editor Choice

Ethereum Foundation Restructures Staff, Renames Core Development Team

The Ethereum Foundation (EF) has recently restructured its core development team and reduced headcount to place greater emphasis on scalability and user experience.

Pi Network Launches Fruitypi To Enhance The Utility Of Pi

Pi Network | Editor Choice

Pi Network launches FruityPi to enhance the utility of PI

The Pi Core Team (PCT) has officially launched FruityPi, a game designed to enhance the utility of PI Coin.